Issue - meetings

The Committee received a report from Ernst and Young attaching their Outline Audit Planning Report 2020/21 which summarised the proposed approach to the 2020/21 external audit, including consideration of the most significant audit risks.

Jacob McHugh for EY drew the committee’s attention to the new risks which will feature in the external audit on pages 5 and 6 of the EY report; the work on accounting estimates (page 8) and Materiality (page 8).  There will be a fuller risk assessment for the committee meeting on 14 July.

EY has worked with officers of the Council to agree an achievable timeline to enable the Committee at its 22 September meeting  to consider an audited set of accounts.

The Committee observed that reference had been made to land re-evaluation, which came up as an issue in last year’s audit work. The Head of Finance stated that as a result of last year’s audit, officers  had reviewed land valuations to ensure that there was internally consistent values.

Unanimously resolved to note the contents of the EY Outline Audit Planning Report 2020/21.